Brick Office Building with
For Sale
$575,000
3741 Tittabawassee Road, Saginaw, MI 48604
COM/IND/BUS OPP, Saginaw, MI
Property Size1,776 SF
Lot Size2.94 Acres
Price / SF$323.76
Days on Market373
Property Features for 3741 Tittabawassee Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Residential
Rooms
Basement
Patio and Porch features
Patio
Exterior features
Deck/Patio
Subdivision
Saginaw Twp (73020)
Standard status
Active
APN
23-12-4-03-2034-000
Size
1,776 SF
Lot size
2.94 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5109
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
handicap ramp
Building Details
Year built
1954
Listing Agency:
Century 21 Signature Realty · Century 21 Real Estate
(989) 921-7000
Listed By:
Connie Reppuhn · License #6501253246
(989) 239-2895
Added: Aug 26, 2025
Changed: Aug 27
Last Checked: Sep 2 at 11:06AM
MLS# 50186491
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,776-square-foot office building occupies 2.94 acres and was constructed in 1954. The all-brick property includes several office areas, bathrooms, a limited kitchen, a basement, and an additional office section that can accommodate a separate business. A front-entry handicap ramp, patio, forced-air heat, central air conditioning, and public water are also in place.
The property is located at 3741 Tittabawassee Road in Saginaw, near established businesses and the Gerber facility under construction. The building has operated as a State Farm agency for more than 30 years, with that business scheduled to relocate by the end of September 2025.
The property is located at 3741 Tittabawassee Road in Saginaw, near established businesses and the Gerber facility under construction. The building has operated as a State Farm agency for more than 30 years, with that business scheduled to relocate by the end of September 2025.
Key Highlights
- 2.94‑acre office property at 3741 Tittabawassee Road, Saginaw, MI 48604
- 1,776 SF all‑brick office building constructed in 1954
- Multiple office areas, bathrooms, limited kitchen, basement, and separate office section
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,383
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$347,660
$347.7K
Cap Rate 7%
$248,329
$248.3K
Cap Rate 9%
$193,144
$193.1K
Market Conditions
NOI Build-Up for 1,776 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.6K $15.00/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$23.2K $13.05/SF
− OpEx
−$5.8K −$3.26/SF
NOI
$17.4K $9.79/SF
Area
Saginaw County, MI
Vacancy
13.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$347,660
Cap Rate 7%
$248,329
Cap Rate 9%
$193,144
Alternative Uses
Best Use
Office B
$248.3K
$217.3K – $289.7K
NOI $17,383 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$328.1K
$287.1K – $382.8K
NOI $22,969 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 48604, MI
12,386
Population
4,603
Households
2.7
Avg Household Size
29
Median Age
24%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
471
Density / Sq Mi
$53,804
Median Household Income
$18,887
Median Earnings
$928
Median Rent
$93,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brick construction, multiple workrooms, basement storage, patio, and a front-entry ramp support varied office use.
Where is this office building located?
The property is located at 3741 Tittabawassee Road Saginaw, MI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2.94‑acre office property at 3741 Tittabawassee Road, Saginaw, MI 48604; 1,776 SF all‑brick office building constructed in 1954; Multiple office areas, bathrooms, limited kitchen, basement, and separate office section
